It is estimated that over half of all hotel, pub, restaurant and hospitality businesses in the UK haven't claimed their capital allowance entitlement.
Jex Capital Allowances are able to assist clients in reducing their tax liabilities by identifying qualifying assets within the building which attract tax relief. These can include:
- New Developments - where a client has constructed or undertaken the construction of a new building / extension to an existing building. Early involvement in the construction planning phase can offer opportunities for Jex CA to proactively manage the tax relief process and often increase the level of allowances available, however historical reviews of work carried can also identify qualifying capital allowance tax relief.
- Purchase of an existing property - where a client purchases an existing building, either for use in their business or as a commercial investment. Property acquisitions can give rise to advantageous tax reliefs through the capital allowances regime. The rules changed for transactions on or after 1 April 2014, requiring new acquisitions to have the capital allowances position clearly defined at the point of sale.
- Refurbishment, alterations and fit-out works - expenditure incurred on an existing building can be analysed in a similar way to the cost of a new building or extension by a detailed review of actual invoiced costs. The value of relief available in connection with refurbishments, alterations or fit-out works is generally enhanced by capturing the cost of all incidental expenditure.
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